Yuga Labs, the developer of Bored Ape Yacht Club, one of the most popular NFT collections, won the case against Ryder Ripps and Jeremy Cahen.
According to the court decision in the USA, Yuga Labs was transferred from Ripps and his partner Cahen. $1.37 million will receive payment.
Ripps and Cahen will invest in NFTs in the Bored Ape collection developed by Yuga Labs in May 2022. produce very similar NFTs, Ryder Ripps has released the Bored Ape Yacht Club (RR/BAYC) collection.
Yuga Labs filed a lawsuit against Ripps and his partner in the same year for counterfeiting NFTs from the original collection. Yuga claims This deliberate move negatively affected the value of pieces in the original collection.
The defendants, however, “appropriation” What they perform, the collection of Yuga Labs “racist, neo-Nazi messages and symbols” They defended that they took it out to draw attention to the spread of the virus.
According to the court’s decision, Yuga Labs lost the defendants’ earnings from the collection. 1.37 million dollars, In addition $200,000 compensation will take. of the company lawyer expenses will also be met.